Optimistic summer

Deloitte CFO Survey - Summer 2017 Results

The Summer 2017 Swiss CFO Survey shows that CFOs are predominantly upbeat, with a majority optimistic about the prospects both for the country’s economy and for their own company. Their expectations for revenues are also positive. In addition, there is an improvement in expectations for their company’s investments and number of employees. Nevertheless, geopolitical risks continue to cause concern, particularly the risks represented by the UK and the US.

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An optimistic economic and corporate outlook

Swiss CFOs remain optimistic about the country’s economic outlook. 71% rate the prospects for the economy over the next 12 months as positive, with 66% rating their own company’s prospects as positive.

Expectations for revenues continue to improve: more than three-quarters of CFOs now rate these as positive over the next 12 months.

Expectations for operating margins have also improved, with a majority expecting margins to increase (38% compared with 28% who expect them to decrease).

In addition, there is an improvement this quarter in CFOs’ expectations for their own company’s investments and number of employees.

Greater political uncertainty in the UK and US

CFOs still perceive uncertainty as high, but their rating has fallen to the lowest level since the exchange rate floor with the euro was removed.

There is however a geographical divide in perceptions of political risks: CFOs perceive France and Germany as representing a smaller risk than in Q1 2017, whereas the perceived risk represented by both the UK and the US has increased over the same period.

Digitalisation as an investment priority

The importance of digitalisation has increased markedly over recent years, and four in every five CFOs (80%) report that their company is prioritising investment in this area.

The second most important area for investment is in employees’ digital skills.

In most cases, digitalisation is used to develop and manage internal processes, but many businesses are also prioritising digitalisation of sales channels, products and services, and development of digital business models.

The Deloitte CFO Survey Switzerland

About the CFO Survey

The survey comprises 20 questions which recur each quarter and around 10 questions unique to the financial conditions of the previous quarter. This allows us to provide you with both specific feedback on the market conditions relevant to the previous quarter, as well as ongoing trend analysis regarding how financial conditions are evolving and how your peers are reacting to them.

The CFO Survey brings the views of CFOs to a wide audience in the media and among policy makers and is a valuable benchmark for Swiss business leaders.

Authors

Communications & Digital

Michael is Deloitte’s Chief Economist in Switzerland. He has been with Deloitte for ten years and leads the Swiss Research team which produces thought leadership publications and studies. Previously, ... More

Manager

Dennis is a Research Manager at Deloitte Insight Switzerland in Zurich, specializing on the Swiss economy, the Swiss CFO Survey and the financial services industry. He joined Deloitte in December 2010... More

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